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Compute the revised or posterior probabilities: P(S11), P(S2 ID) and P(S3 II). If required, round your answers to four decimal places.

Compute the revised or posterior probabilities: P(S11), P(S2 ID) and P(S3 II). If required, round your answers to four decimal places.

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 1E: If a game gives payoffs of $10 and $100 with probabilities 0.9 and 0.1, respectively, then the...
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Problem 13-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59 and P(53) = 0.19. With sample information I, P(I | S1) = 0.15, P(I | S2) = 0.04 and P(I | S3) = 0.22. Compute the revised or posterior probabilities: P(S1 | 1), P(S211) and P(S3 II). If required, round your answers to four decimal places. State of Nature 51 S 3₂ Sum P(S) 17)
Transcribed Image Text:Problem 13-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59 and P(53) = 0.19. With sample information I, P(I | S1) = 0.15, P(I | S2) = 0.04 and P(I | S3) = 0.22. Compute the revised or posterior probabilities: P(S1 | 1), P(S211) and P(S3 II). If required, round your answers to four decimal places. State of Nature 51 S 3₂ Sum P(S) 17)
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